150 sats \ 0 replies \ @scampy 14 Nov 2022 \ parent \ on: Daily discussion thread
Good for you. Inheritance is something that I think a lot of Bitcoiners overlook, and is probably something that doesn't get discussed enough.
There's quite a lot of effort that goes into just the basics. Bitcoiners on SN are technical and familiar with seed phrases, HWWs, multisig, etc. But your average Joe isn't going to know any better and could easily expose his private keys by typing his seed phrase into a malicious copy of Ledger Live or something. Or maybe they move it all into an exchange for "safe keeping" and get rugged. Or maybe they panic sell after a drawdown.
How long does it take your average Bitcoiner to appreciate the risks of shitcoins, exchanges, private key management, etc.? There are so many loss vectors. I should update my inheritance documentation to say something like "read XYZ books and study up on Bitcoin for one year before touching ANYTHING".